The city bought itself a half-acre of land at Willets Point for $3.5 million – snapping up three parcels in Queens’ redeveloping “Iron Triangle” at nearly 10 times their assessed value.

The financials of the Oct. 2 deal with real-estate company BRD Corp. provide the first glimpse into the cost of clearing the 62-acre complex to make way for a multibillion-dollar residential and commercial development.

Twelve landowners have reached agreements in the last few months with the city, which is to announce today the two latest deals, for a combined 4.1 acres. About 60 landowners have yet to sign on.

Most of the deals will not be finalized unless the City Council approves the project Wednesday. Details have been hush-hush as negotiations continue.

The BRD deal was “pretty good” for the seller, said Steve Spinola, president of the Real Estate Board of New York, noting that the price of $161 per square foot exceeded the $100 to $150 average in the outer boroughs.

According to a spokesman for Mayor Bloomberg, the city has $409 million in the capital budget over five years for Willets Point property acquisition, business relocation and infrastructure improvements.